Canadian Solar Inc. (NASDAQ:CSIQ) has earned a consensus recommendation of “Hold” from the ten research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $24.29.
Several brokerages recently commented on CSIQ. Cascend Securities restated a “buy” rating and set a $30.00 target price (up previously from $25.00) on shares of Canadian Solar in a research report on Friday. BidaskClub upgraded Canadian Solar from a “hold” rating to a “buy” rating in a report on Saturday, August 3rd. Roth Capital increased their price target on Canadian Solar from $27.00 to $32.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. set a $25.00 price target on Canadian Solar and gave the stock a “hold” rating in a report on Friday, June 21st. Finally, ValuEngine lowered Canadian Solar from a “hold” rating to a “sell” rating in a report on Thursday, August 1st.
Shares of Canadian Solar stock traded up $0.31 on Friday, hitting $23.39. 1,583,000 shares of the company’s stock traded hands, compared to its average volume of 712,126. Canadian Solar has a one year low of $12.69 and a one year high of $25.89. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.01 and a quick ratio of 0.88. The company has a fifty day moving average of $21.40 and a two-hundred day moving average of $20.77. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 7.13, a price-to-earnings-growth ratio of 0.29 and a beta of 2.22.
Canadian Solar (NASDAQ:CSIQ) last announced its earnings results on Thursday, August 15th. The solar energy provider reported $0.77 EPS for the quarter, beating the consensus estimate of $0.23 by $0.54. Canadian Solar had a return on equity of 15.01% and a net margin of 7.01%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $990.29 million. During the same quarter in the prior year, the company earned $0.26 EPS. The firm’s revenue for the quarter was up 59.4% compared to the same quarter last year. Equities research analysts anticipate that Canadian Solar will post 2.59 earnings per share for the current year.
A number of large investors have recently made changes to their positions in CSIQ. Financial Gravity Wealth Inc. bought a new position in Canadian Solar in the first quarter worth approximately $26,000. Bank of Montreal Can boosted its holdings in Canadian Solar by 59.4% in the second quarter. Bank of Montreal Can now owns 2,951 shares of the solar energy provider’s stock worth $65,000 after acquiring an additional 1,100 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Canadian Solar in the second quarter worth approximately $68,000. C M Bidwell & Associates Ltd. boosted its holdings in Canadian Solar by 30.0% in the second quarter. C M Bidwell & Associates Ltd. now owns 4,530 shares of the solar energy provider’s stock worth $99,000 after acquiring an additional 1,045 shares in the last quarter. Finally, Advisor Group Inc. boosted its holdings in Canadian Solar by 14.7% in the second quarter. Advisor Group Inc. now owns 4,896 shares of the solar energy provider’s stock worth $107,000 after acquiring an additional 629 shares in the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.
Canadian Solar Company Profile
Canadian Solar Inc, together with its subsidiaries, designs, develops, manufactures, and sells solar ingots, wafers, cells, modules, and other solar power products primarily under the Canadian Solar brand name. The company operates through two segments, Module and System Solutions, and Energy. Its products include various solar modules that are used in residential, commercial, and industrial solar power generation systems.
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